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5 Things To Know About The Mimecast Hack And Stock Drop

From the type of certificate likely compromised to the impact of this hack on Mimecast’s email security rivals to whether the attack is tied to the SolarWinds breach, here are five big things to know about the Mimecast hack.

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1. Mimecast Stock Plummets Following Hack Disclosure

Mimecast disclosed the security compromise in a four-paragraph blog post and filing with the U.S. Securities and Exchange Commission (SEC) before the market opened Tuesday. By midday, Mimecast’s stock had plummeted $5.54 per share (10.77 percent) to $45.86 per share.

That’s the lowest Mimecast’s stock has traded since Dec. 3, 2020. The stock price decline has shaved more than $350 million off the company’s valuation, which now stands at $2.93 million, according to Google Finance.

 

 
 
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